Question $3$ of $7$

$\frac{-}{14\mathrm{.}28}$

Balance Sheet $($Partal$)$

Stockholders' equity

Paid$-$in capital

Preferred stock, cumulative, $10,000$ shares authorized, $7,000$ shares issued and outstanding

Common stock, no par, $880,000$ shares authorized, $560,000$ shares issued

Total paid$-$in capital

Retained earnings

Total paid$-$in capital and retained earnings

Less: Treasury stock $(12,000$ common shares$)$

Total stockholders' equity

From a review of the stockholders' equity section, answer the following questions.

$($a$)$ How many shares of common stock are outstanding?

$($b$)$ Assuming there is a stated value, what is the stated value of the common stock?

$($c$)$ What is the par value of the preferred stock?

$($d$)$ If the annual dividend on preferred stock is $$75,600,$ what is the dividend rate on preferred stock?

$($e$)$ If dividends of $$151,200$ were in arrears on preferred stock, what would be the balance reported for retained earnings?